Angie Storozynski News
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Dominion Resources Inc. rose the most in almost three months after announcing it will move forward with plans to export natural gas from its Cove Point facility, after signing agreements with Sumitomo Corp. and an unidentified company to use all of the project’s capacity to liquefy fuel.
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Constellation Energy Group Inc. , the Baltimore-based utility owner, reported a third-quarter loss of $1.41 billion as it wrote down the value of its stake in nuclear plants jointly owned with Electricite de France SA.
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The $99 trillion U.S. natural-gas industry, led by Exxon Mobil Corp . and Chesapeake Energy Corp ., is prepared for a surge in demand as Japan ’s nuclear crisis shakes confidence in atomic energy, executives said.
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A shale-driven glut of natural gas has cut electricity prices for the U.S. power industry by 50 percent and reduced investment in costlier sources of energy.
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Dynegy Inc. , the third-largest U.S. independent power producer, may need to sell itself piece by piece after Blackstone Group LP ’s $604.5 million offer to buy the whole company was rejected, analysts said.
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Duke Energy Corp. offered to sell some electricity at its cost plus 10 percent to ease regulatory concern about competition in wholesale power markets from its $15.3 billion purchase of Progress Energy Inc.
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Dynegy Inc. extended for a third time the deadline for its distressed-debt exchange, which would swap as much as $1.25 billion of its outstanding notes for cash and new securities worth less than face value.
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Exelon Corp. is trying to pull off its largest takeover by acquiring more nuclear power plants -- less than two months after the industry’s worst disaster since Chernobyl.
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NextEra Energy Inc. and Entergy Corp. are among U.S. electric utilities that may report higher earnings in 2012 after refinancing debt this year, Macquarie Capital USA Inc. said.
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U.S. plans to upgrade the nation’s aging pipeline networks, which may cost an estimated $50 billion, will provide profit growth opportunities at regulated utilities such as PG&E Corp. and Sempra Energy.
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